Tech Mahindra posts USD 281 million in global revenue for Q1 FY'2012-2013

Company witnesses healthy growth surge in the MENA region

Dubai, United Arab Emirates (prHWY.com) August 12, 2012 - Tech Mahindra (TechM), a global systems integrator and business transformation consulting services firm exclusively focused on the communications industry, has released the consolidated financial results for its first quarter for the fiscal year 2012-2013, revealing over USD 281 million, flat QoQ in global revenue for Q1 that ended on June 30, 2012. The company also posted operating profits (EBIDTA) worth over USD 60 million, which reflects an increase of 26 per cent QoQ.

For the Middle East and North African (MENA) region alone, TechM witnessed a healthy growth surge, which is attributed to the company's recent efforts to expand its solution footprint across six key pillars, which includes applications management, network services, security, Value Added Services (VAS), Infrastructure Management Services (IMS) and Business Process Outsourcing (BPO). Amidst recent events in the Middle East, the IT spending behavior of telecommunication companies has veered heavily onto the turnkey outsourcing of applications in the BSS/OSS space. According to TechM, much of the work in today's regional market place revolves around IT Applications, Applications Outsourcing, System Integration and Managed Services, which also played a key role in increasing its revenue for the first quarter. The company also stated that analytics, cloud and security is slowly picking up its pace in the market.

"The growth that we have achieved for the first quarter of the current fiscal year demonstrates our unique specialization across the telecommunications market," said Girish Bhat, Vice President, MEA Sales & Operations, Tech Mahindra. "The growth was mainly driven in by factors like controlling costs and the strong attention placed by operators towards increasing their revenues. TechM has helped address these issues by enabling businesses and operators to focus on core business and handle key functions like IT and networks. Over the years, we have managed to maintain strong relationships with leading operators in the Middle East region and with the take over of Mahindra Satyam, we will have the strategic advantage of offering solutions that give our customers a full 360 degree view of their businesses."

Vineet Nayyar, Vice Chairman, Managing Director and Chief Executive Officer, Tech Mahindra said, "Our focus on operational efficiencies has led to margin improvement, we continue to focus on expansion of our service offerings and increasing business momentum through customer centricity and increased market coverage."

Aiming to maintain a continuous growth streak, the company's core focus for the Middle East region and the UAE in particular, will be on the telecommunications market. For the remaining quarters of the year, TechM's focus markets will include Qatar, UAE and Saudi Arabia. The company also posted a global head count of 40,630 (Software Professional headcount at 24,768, BPO at 14,608 and Support staff at 1,254), with 18 per cent YoY headcount growth onsite in the Middle East.

Some of the key wins that the company has recently received include;

* Chosen by a leading European Telco for End-to-End services to be delivered via a global test factory. The scope of work will include traditional OSS / BSS, Networks and Infrastructure
* Won an End-to-End application production support contract with one of the leading US Telco and the scope covers second level operational support for the critical suite of client applications.
* Selected by a leading European Telco to provide Network Platform and Application development. The transformation engagement will encompass migration and up gradation of the current platforms to optimize the customer call flows.
* Awarded a System Integration project by a leading Middle East Telco to implement their Mobile Number Portability (MNP) solution

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Tag Words: mahindra, it, revenues, tech

Categories: Technology

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